Ali Pervaiz Malik

Pakistan's petroleum minister stated the country is considering purchasing cheaper oil and gas from Iran following a temporary easing of US sanctions. The move could save $170-340 million annually and align with recent fuel price reductions in Pakistan amid lower international oil prices and eased Middle East tensions.

Petroleum Minister Ali Pervaiz Malik denied claims of sectoral bias after the government maintained petrol and diesel prices at Rs299.50 and Rs311.47 per litre, citing international oil price trends. Critics, including former Sindh governor Mohammad Zubair and PTI's Haleem Adil Sheikh, accused the government of failing to pass savings to consumers despite lower global prices.

Pakistan's Petroleum Division assured oil firms that the weekly pricing mechanism would continue, basing future petrol and diesel prices on recent import premiums to minimize losses. Industry leaders criticized frequent policy changes for eroding profitability and deterring foreign investment, while demanding restoration of the pre-war pricing formula.

Prime Minister Shehbaz Sharif directed authorities to pass on benefits of falling international oil prices to consumers. A high-level committee was formed to establish a transparent weekly fuel pricing mechanism, and Iran and the United States are moving toward a ceasefire agreement, easing regional tensions and boosting oil supply prospects.